Slide 1: Q3 2025 Earnings Report
Q3 2025 Earnings Report 5 November 2025 ©2025 Sabre GLBL Inc. All rights reserved. 1
Slide 2: Forward-looking statements
Forward-looking statements Forward-looking Statements Certain statements herein are forward-looking statements about trends, future events, uncertainties and our plans and expectations of what may happen in the future. Any statements that are not historical or current facts are forward-looking state
Slide 3: Today's presenters
Today's presenters Kurt Ekert Mike Randolfi President & CEO EVP & CFO
Slide 4: Delivering on our strategic priorities
Delivering on our strategic priorities Generate Free Cash Flow and Delever the Drive Growth through Balance Sheet Innovation RECENT ACHIEVEMENTS RECENT ACHIEVEMENTS Q3’25 Normalized Adjusted EBITDA growth of 23% Seized first-mover position with agentic APIs for travel On-track for full-year Pro Form
Slide 5: Business and financial results
Business and financial results Q3 2025 SUMMARY Total Distribution Bookings Air Distribution Bookings 95M 81M +3% YoY +2% YoY Passengers Boarded Hotel Distribution Bookings 182M 11M +6% YoY +3% YoY +103 bps attachment rate growth Revenue Normalized Adjusted EBITDA $715M $150M +3% YoY +23% YoY Normali
Slide 6: Driving growth through innovation
Driving growth through innovation SABREMOSAIC TRAVEL MARKETPLACE INTELLIGENT RETAILING AND COMMERCE Multi-Source Distribution Hotel B2B Digital Platform Expansion Distribution Payments Airline IT Deliver the most robust air Expand customer-base Expand content to become Provide simplified and Become
Slide 7: End to end fintech driving fast growth trajectory
End to end fintech driving fast growth trajectory Sabre Direct Pay Conferma A secure fintech solution for every stage in the travel journey Trusted global payment gateway for all corporate spend Smoother customer pay-ins Flexible cross-border payouts Secure, compliant virtual card Simplified procure
Slide 8: Sabre is leading the evolution of AI in travel
Sabre is leading the evolution of AI in travel AI Optimization Gen AI Consumer LLMs Agentic APIs Lodging cross-sell Agency digital Sabre IQ leveraged Sabre Model Context travel assistant Protocol (MCP) server Travel agent email parser Airline digital Intent signals from Dynamic pricing of airfare Ag
Slide 9: Air distribution bookings outlook for remainder of 2025
Air distribution bookings outlook for remainder of 2025 AIR DISTRIBUTION BOOKINGS EXPECTED QUARTERLY RAMP OF AIR DISTRIBUTION BOOKINGS GROWTH • On-track for positive YoY air distribution volume growth • Growth Strategies accelerating throughout the year Positive YoY Growth with the largest component
Slide 10: Mike Randolfi
Mike Randolfi EVP & CFO
Slide 11: Q3 2025 financial highlights
Q3 2025 financial highlights Q3 financial results are presented to exclude the impact of discontinued operations, consistent with prior guidance methodology REVENUE NORMALIZED ADJUSTED NORMALIZED ADJUSTED EBITDA EBITDA MARGIN $715M $150M 21% +3% YoY +23% YoY +340 bps YoY PRO FORMA FREE CASH CASH ON
Slide 12: Q3 2025 actual results versus guidance
Q3 2025 actual results versus guidance Q3’25 Q3’25 Guidance Actual Low-to-mid single digit $715M Revenue YoY growth +3% YoY $150M Normalized Adj. EBITDA $140M - $150M +23% YoY Pro Forma Free Cash Flow $40M - $50M $13M Normalized Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See slide 2 a
Slide 13: Focused on improving balance sheet and delevering
Focused on improving balance sheet and delevering DEBT MATURITY PROFILE NET DEBT MATURITY PROFILE • Paid off over $1B in debt using cash on the balance sheet and proceeds from the sale of Hospitality Solutions $4.3B (18%) • Extended debt maturity runway, with ~60% of debt maturities $3.5B beyond 202
Slide 14: Q4 and FY 2025 pro forma guidance
Q4 and FY 2025 pro forma guidance1 Q4’25 Prior FY’25 FY’25 6% to 8% Air Distribution Volumes 0.5% to 3.5% Positive YoY growth YoY growth Low single digit Flat to low single digit Revenue Flat YoY growth YoY growth YoY growth ~$110M ~$530M Pro Forma Adj. EBITDA ~$530M to ~$570M +2% YoY +9% YoY Pro Fo
Slide 15: Thank you
Thank you a
Slide 16: Appendix
APPENDIX
Slide 17: Non-GAAP financial measures
Non-GAAP financial measures We have included both financial measures compiled in accordance with GAAP and certain non-GAAP financial measures, including Adjusted Net Loss from continuing operations ("Adjusted Net Loss"), Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized
Slide 18: Non-GAAP financial measures
Non-GAAP financial measures Adjusted Net Loss, Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA Margin, Adjusted EPS, Free Cash Flow, and Pro Forma Free Cash Flow and ratios based on these financial measures are not recognized terms under GAAP. These no
Slide 19: Non-GAAP pro forma outlook
Non-GAAP pro forma outlook The non-GAAP pro forma financial outlook in this press release, including pro forma Adjusted EBITDA and pro forma Free Cash Flow, is not necessarily indicative of the operating results of the Company after closing of the Hospitality Solutions Sale and utilization of the ne
Slide 20: Tabular reconciliation for Normalized Non-GAAP measures
Tabular reconciliation for Normalized Non-GAAP measures The following table reconciles our previously reported consolidated adjusted results by income statement line item to normalized adjusted results from continuing operations by line item. Adjustments represent (1) the impact of classifying Hospi
Slide 21: Business and financial pro forma financial outlook
Business and financial pro forma financial outlook The Company is providing the quarterly and full year 2025 outlook included below on a pro forma basis to give effect to the sale of the Hospitality Solutions business, and we have removed the impact of the $227 million of payment-in-kind interest th
Slide 22: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of net loss attributable to common stockholders to Adjusted Net Loss from continuing operations and loss from continuing operations to Adjusted EBITDA: (in thousands, except per share amounts; unaudited) ©2025 Sabre GLBL Inc. All rights re
Slide 23: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures ©2025 Sabre GLBL Inc. All rights reserved. 23
Slide 24: Non-GAAP footnotes
Non-GAAP footnotes (1) Net income (loss) attributable to noncontrolling interests represents an adjustment to include earnings allocated to noncontrolling interests held in (i) Sabre Travel Network Middle East of 40%, (ii) Sabre Seyahat Dagitim Sistemleri A.S. of 40%, (iii) Sabre Travel Network Lank